FONAR (NASDAQ:FONR) Rating Increased to Strong-Buy at StockNews.com

FONAR (NASDAQ:FONR) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

FONAR Trading Down 2.1 %

Shares of NASDAQ FONR opened at $15.85 on Monday. The firm’s 50-day moving average price is $17.23 and its 200-day moving average price is $17.13. The firm has a market capitalization of $100.30 million, a P/E ratio of 10.16 and a beta of 1.19. FONAR has a 1-year low of $12.13 and a 1-year high of $24.05.

Institutional Investors Weigh In On FONAR

Several hedge funds and other institutional investors have recently modified their holdings of FONR. Denali Advisors LLC increased its stake in FONAR by 20.1% during the 1st quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 2,700 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of FONAR by 37.6% in the 1st quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after acquiring an additional 4,507 shares during the last quarter. Inspire Advisors LLC acquired a new stake in shares of FONAR in the 1st quarter worth about $218,000. Hillsdale Investment Management Inc. lifted its position in FONAR by 7.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 66,200 shares of the medical equipment provider’s stock valued at $1,414,000 after acquiring an additional 4,800 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in FONAR by 38.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 9,237 shares during the last quarter. Institutional investors own 50.64% of the company’s stock.

FONAR Company Profile

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.